Prudential Says Refiled ERISA Class Action Still Falls Short

By Kellie Mejdrich (December 21, 2021, 5:21 PM EST) -- The Prudential Insurance Co. of America asked a New Jersey federal court to toss the latest version of a proposed class action from employees alleging that the company mismanaged its employee 401(k) plan, panning the claims as "morning-after quibbling" with the company's decisions.

Prudential said the second amended complaint from a proposed class of employees — led by former sales agent and retirement plan participant Young Cho — hadn't corrected flaws that led to a dismissal of the suit in September. The insurance giant was hit with the proposed class action in November 2019, but Judge John Michael Vazquez of the...

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